Location Finders International ("LFI") a private sector development company, has rescinded their offer to purchase and develop a portion of the civic center site with a DuPage Medical Group ("DMG") office building. In late 2018, LFI submitted an unsolicited proposal to the Village for this purchase and development. In less than 60 days from the date the terms of an agreement were approved, they reneged on their offer and stopped all work on the project.
"Everyone at the Village is extremely disappointed with LFI's abrupt and inexcusable abandonment of this project and the public-private partnership that it entailed. We expected and trusted LFI and DMG to fully honor the terms of the offer that they submitted to us just a few short weeks ago," stated Mayor Martin Tully.
Since money from the sale of land and property taxes to be paid were the primary revenue sources for this project, the Village has also stopped working on this project. Despite this inexplicable failure by LFI, the need to improve or replace the Police Station and Village Hall remains an issue.
The Village Council will continue to address this issue as part of Long Range Planning which starts in May.